Business tycoon, Christo Wiese, says the noose is tightening in response to the first big move against ex-CEO, Markus Jooste. Yesterday the Reserve Bank began seizing assets belonging to Jooste and his wife or linked to his family trust or his company Lanzerac Estate Investments. The assets include the couple's home in Hermanus, cars, jewellery and the historic Lanzerac wine farm. The documents authorizing the attachments show he's suspected of having flouted exchange control regulations. Wiese was the Chairperson of Steinhoff when its shares dramatically crashed in December 2017 after a German investigation into financial irregularities.
R200 billion was wiped off the JSE. And Wiese lost more than half of his wealth as the biggest investor in Steinhoff. He has since regained his status as a dollar billionaire.
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